Maximum pension benefits averaged $68,902 for the 2,598 members of the New York State Teachers Retirement System (NYSTRS) who retired last year with at least 30 years of credited service time, according to data posted today on SeeThroughNY, the Empire Center’s transparency website.

Reflecting regional salary differences, the average pension for the NYSTRS members with 30 years or more of service was highest among retirees from New York City suburban districts—topped by Long Island, where the average pension for such educators is closing in on $90,000, as shown in the table below.

chart-6060707

Excluding New York City educators, who belong to a separate city retirement system, the average pension for all 5,702 newly retired NYSTRS members was $47,773. The total includes both part- and full-time public school teachers, many of whom met only a minimum five-year requirement to vest in the pension system.

The number of NYSTRS retirees eligible for annual benefits of $100,000 or more has more than quadrupled in the past 10 years, reaching 3,578 in 2017-18, including 220 in the latest group of retirees. Six-figure pensioners included 45 retirees eligible for benefits of $200,000 to $300,000, and four eligible for pensions exceeding $300,000.  The top NYSTRS pension earner retiring in 2017-18 was former Manhasset superintendent Charles S. Cardillo, who can collect up to $222,687.

The full list of NYSTRS retirees and their pension benefit levels was made public thanks to the Empire Center’s successful court challenge to efforts by pension funds to conceal this information from taxpayers. The Center remains involved in litigation to protect and expand the public’s ability to examine public pensions.

The Empire Center, based in Albany, is an independent, not-for-profit, non-partisan think tank dedicated to promoting policies that can make New York a better place to live, work and raise a family.

 

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Empire Center for Public Policy
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Phone: 518-434-3100

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About

The Empire Center is an independent, non-partisan, non-profit think tank located in Albany, New York. Our mission is to make New York a better place to live and work by promoting public policy reforms grounded in free-market principles, personal responsibility, and the ideals of effective and accountable government.

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